Future Economic Potential of Tidal Stream & Wave Energy in Scotland – January 2025

The Policy and Innovation Group at the University of Edinburgh published a summary report commissioned by Scottish Enterprise and Wave Energy Scotland, highlighting the future economic benefit gained from developing and deploying tidal stream and wave energy in Scotland, the rest of the UK, and from global exports.

The report outlines that by 2050 nearly 9 GW of tidal stream and wave energy could be deployed in Scottish waters, generating over £8bn in economic benefit to the Scottish economy and creating over 15,000 jobs. To ensure that these projects are led by Scottish companies and organisations, establishing a domestic supply chain is important. To achieve these changes in supply chain capabilities, the summary report provides a set of targeted policy recommendations.

Firstly, targeted recommendations are required to support both device developers and their supply chains, focusing on the need for long-term market support, sustained technology innovation, and increased supply chain competitiveness.

Secondly, recommendations are needed to develop essential sector infrastructure, focusing on developing skills for a Just Transition, fostering cross-sector collaboration and prioritising infrastructure upgrades.

Finally, to support the other recommendations the report recommends Scotland should utilise the extensive experience of its enterprise and innovation support organisations, to deliver on the complex task of sustained device development and the modernisation of domestic supply chain capabilities.

Click here to read the full report.